China's Chongqing Iron may sell up to RMB 2 billion 10-year bonds

By Susanna Moon

Chicago, Feb. 23 - Chongqing Iron & Steel Co. Ltd. said it will hold an extraordinary general meeting at 10 a.m. on April 14 to propose issuing up to RMB 2 billion of corporate bonds.

The term of the bonds will be up to 10 years. The bonds may be issued under a single category or mixed categories with different maturities.

Proceeds will be used to repay bank loans and supplement the company's working capital.

The company is a Chongqing, China-based manufacturer and distributor of iron and steel products.

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